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The Actuary The magazine of the Institute & Faculty of Actuaries

Did FRS17 kill DB pensions?

The implications of FRS17 and IAS19 will be the subject of the 2008 Centre for Financial Markets Research Debate. Held at the University of Edinburgh Business School, on 1 October at 6pm, the debate will explore a range of issues, including:
>> Did the requirement that pensions liabilities be placed on the balance sheet of sponsoring employers provide welcome transparency for investors or simply introduce short-term ‘mark to market’ influences into long-term investment decisions?
>> Did FRS17 kill DB pension provision or had the damage already been done by adverse financial trends and increasing longevity?
>> What are the key issues in implementing the new pensions accounting approaches?
>> How might accounting for pensions be improved in future?

David Cule FIA will propose that FRS17 played a significant role in killing DB pension provision in the UK and Geoffrey Whittington, a current member of the UK Accounting Standards Board and a former member of the International Accounting Standards Board, will speak against the motion. Faculty president Ronnie Bowie and Dr Alastair Byrne will join the debate for the panel discussion.

The event is free but registration is required as space is strictly limited. For more details, please visit webdb.ucs.ed.ac.uk/management/school_new/news/events/this_event.cfm?ev=204